The 26-year-old 'Born This Way' singer thinks that the extravagant house would a great place to show off her other buys - Judy Garland's 'Wizard of Oz' ruby slippers, a posh dress worn by Daphne Guinness and a whopping 55 of MJ's most personal items that she recently bought in an auction, reported Sun online.
"Lady Gaga is obsessed with Michael. She has become good friends with his sister Latoya and would love more than anything else to restore Neverland to its original state.
"His kids are all desperate to hold on to their childhood home so they can decide what they want to do with it properly when they have grown up. Gaga would love to help with the financial costs by buying a share," a source said.
Gaga was due to support MJ in London before he died in 2009.
The estate sits on 3,000 acres of land in California and was once a sight to behold. MJ bought it in 1988 and installed his own rail track, a petting zoo and a fairground.
But when he got into financial difficulties in 2008 the investment group Sycamore Valley Ranch Company bought his USD 23 million mortgage.